In June last year, it was reported that the US justice department had returned approximately RM6.6 billion in misappropriated funds.
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https://www.freemalaysiatoday.com/category/nation/2025/01/20/us-to-recover-another-us20-million-in-stolen-1mdb-funds/
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Read More:
https://www.freemalaysiatoday.com/category/nation/2025/01/20/us-to-recover-another-us20-million-in-stolen-1mdb-funds/
Free Malaysia Today is an independent, bi-lingual news portal with a focus on Malaysian current affairs.
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NewsTranscript
00:00The United States has agreed to recover an additional 20 million U.S. dollars
00:05in misappropriated 1MDB funds, the U.S. Department of Justice said in a statement last week.
00:11In June last year, the DOJ said it had recovered, returned, and assisted in returning to Malaysia
00:17approximately 1.4 billion U.S. dollars, which had been misappropriated.
00:22At the time, the U.S. embassy said the sum represented the fourth installment of funds
00:27recovered from asset seizures related to the scandal-plagued state investment arm.
00:32In 2020, the DOJ said it was seeking to recover 96 million U.S. dollars in assets linked to 1MDB.
00:401MDB was a sovereign fund set up in 2009 with the help of financier Low-Tick Joe or Joe Low
00:46and co-founded by former Prime Minister Najib Razak to promote economic development.
00:52However, the DOJ discovered that some 4.5 billion U.S. dollars of the funds
00:57had been diverted to offshore bank accounts and shell companies,
01:01many linked to Low who was last reported to be hiding in Macau.
01:05Hanyu Zhou, FMT News.